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Patterns should be confirmed by other indicators from "summary" of Japanese Candlestick Charting Techniques by Steve Nison
When identifying a potential candlestick pattern on a chart, it is important to remember that patterns alone may not always be reliable indicators of market direction. This is where the concept of confirming patterns with other indicators comes into play. By relying solely on the presence of a particular candlestick formation, traders may overlook other crucial factors that could influence the market. It is essential to consider additional technical analysis tools and indicators to validate the signals provided by candlestick patterns. Confirmation from other indicators can help traders gain more confidence in their trading decisions. These indicators could include moving averages, support and resistance levels, volume analysis, or othe...
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